Branko Radulovic | University of Belgrade, Faculty of Law (original) (raw)

Papers by Branko Radulovic

European journal of law and economics, Mar 11, 2024

The World Bank eBooks, Aug 1, 2005

This paper uses data on 27,000 firms from 50 countries, half of which are transition economies, t... more This paper uses data on 27,000 firms from 50 countries, half of which are transition economies, together with the specific case of Serbia to examine the relationship between productivity, the investment climate and private ownership of firms. As government capacity to address the investment climate constraints is limited, the prioritization of the constraints is critical. Identification of the relative effects of various investment climate constraints and ownership on productivity should serve as a guide for such prioritization. Although ownership has recently received less attention in policy decisions than previously, according to the econometric analysis of productivity reported in the paper, private ownership is an equally or more important determinant of productivity than other components of the investment climate. The importance of ownership shows that an unfinished privatization and restructuring agenda might have negative effects on productivity, in parallel to poor investment climate. Another important finding is that countries in which firms complain more about infrastructure tend to have less productive firms.

Zbornik Radova: Pravni Fakultet u Novom Sadu, 2020

The su bject of this pa per is the con trast ef fect in ne go ti a ti ons from the be ha vi o ral... more The su bject of this pa per is the con trast ef fect in ne go ti a ti ons from the be ha vi o ral eco no mics per spec ti ve. We con duc ted an ex pe ri men tal study using a "di vor ce li ti ga tion ga me" with com ple te in for ma tion abo ut payoffs ai med at te sting whet her par ti ci pants are pro ne to con text-de pen dent de ci si ons. The sample was cre a ted by 100 law stu dents from the Fa culty of Law of the Uni ver sity of Niš. In a "bet we en su bjects" de sign 100 dif fe rent par ti ci pants we re te sted in the con trol and tre at ment gro up. The main fin ding is that the re is a sta ti sti cally signi fi cant dif fe ren ce bet we en the two gro ups, thus con fir ming the pre sen ce of the con trast ef fect. The study opens the do or to furt her real ex pe ri ments with an emp ha sis on ot her su bjects, such as lawyers, chec king if they are so "ra ti o nal".

Zbornik Radova Pravnog Fakulteta u Nišu, 2020

Social Science Research Network, 2008

The article empirically examines the determinants of the resolution choice i.e. choice between §3... more The article empirically examines the determinants of the resolution choice i.e. choice between §363 sale and traditional Chapter 11 reorganization; the determinants of the availability and size of debtor-in-possession financing; and the effects of resolution choice on recovery rates. We find that business justification standard for not going though the traditional process of disclosure and plan confirmation within traditional Chapter 11 reorganization is not randomly applied. The resolution choice doesn't influence on the availability or on the magnitude of DIP financing. Predominant factor explaining difference in recovery rates is profitability prior to bankruptcy rather than the resolution choice. After controlling for self-selection (which is significant and effective), traditional reorganization does seem to offer higher recovery rates comparable to preplan sale, but results are neither statistically robust, nor as important as it is argued in LoPucki and Doherty (2007). Availability of DIP financing doesn't significantly affect recovery rates unless its size is considerable. The increase in relative size of DIP financing makes everyone better-off. Although results suggest that there is no systemic error with respect to companies that opt for preplan sales there are certainly several important procedural issues that could be improved while keeping the flexibility of section 363(b). This is a working paper and the author would welcome any comments on the present text.

Social Science Research Network, 2010

... This is a working paper and the author would welcome any comments on the present text. Please... more ... This is a working paper and the author would welcome any comments on the present text. Please do not quote without permission. JEL Classification: K22, G33 * Email: branko.radulovic@unito. it; Institutions Economics Law (IEL), Collegio Carlo Alberto, University of Turin ...

Social Science Research Network, 2007

... phone: (+381)11 30 27 609; email: branko.radulovic@unito.it address: Collegio Carlo Alberto (... more ... phone: (+381)11 30 27 609; email: branko.radulovic@unito.it address: Collegio Carlo Alberto (CLEI), Via Real Collegio 30 10024 Moncalieri (TO), Italy Page 2. -2-Case decisions in a system of judge-made law fulfil two purposes: they resolve disputes between the ...

Institute for Local Self-Government Maribor eBooks, 2023

Springer eBooks, 2023

Authors are listed in alphabetical order. Sect. 12.2 was written by Branko Radulović and Sect. 12... more Authors are listed in alphabetical order. Sect. 12.2 was written by Branko Radulović and Sect. 12.3 was authored by Vanesa Hervías Parejo. Sect. 12.1 and 12.4 were written jointly.

Anali Pravnog fakulteta u Beogradu - Časopis za pravne i društvene nauke, Jun 24, 2015

Clanak predstavlja prvu detaljnu ekonometrijsku analizu unapred pripremljenih planova reorganizac... more Clanak predstavlja prvu detaljnu ekonometrijsku analizu unapred pripremljenih planova reorganizacije (UPPR) u Srbiji. UPPR daje izuzet- ne podsticaje i predstavlja poželjnu opciju restrukturiranja za dužnike u finansijskim poteskocama. Na osnovu uzorka od 97 slucajeva pokazujemo da UPPR ne uspeva da „filtrira“ dužnike cije poslovanje nije održivo, odnosno ne nalazimo da su dužnici koji podnose UPPR u znacajno boljem finansijskom položaju od onih ciji se planovi podnose nakon otvaranja stecajnog postup- ka. Slabo filtriranje je posledica neadekvatne primene instituta UPPR i pasivnosti poverilaca. U radu razmatramo regulatorni i tržisni pristup resavanju problema negativne selekcije dužnika koji podnose UPPR.

Anali Pravnog fakulteta u Beogradu, 2020

The paper empirically assesses evidence of bias among bankruptcy judges and predictability of jud... more The paper empirically assesses evidence of bias among bankruptcy judges and predictability of judicial decision making in Serbia. For this purpose, we devised three hypothetical cases that were distributed to judges that preside over bankruptcy cases in Serbia. While the results do not indicate a consistent bias towards either the debtor or the creditor, they show concerning unpredictability of judicial decision making, hence leading to a high level of legal insecurity. Based on responses we observed high heterogeneity among Serbian bankruptcy judges in their interpretation of the bankruptcy laws. This makes allocation of cases to the particular judge a significant determinant for how the debtors and creditors will be treated and how the law will be applied.

Social Science Research Network, 2004

Industrija, 2019

The paper examines the attitudes and perceptions of Serbian businesses regarding justifiability o... more The paper examines the attitudes and perceptions of Serbian businesses regarding justifiability of tax evasion and assess factors that make tax evasion morally acceptable. Using survey of 1,049 businesses in Serbia, the paper finds strong evidence that the negative evaluation of the tax authorities is associated with lower tax morality. Both the ordered logit model (OLM) and the partial proportional odds model (PPOM) as a desirable alternative to OLM were used in the analysis. The perception of the risk of being caught and the overall tolerance of tax evasion are also associated with lower tax morality of businesses (business owners and managers). Results suggest that in the next period it would be important for the Serbian tax authorities to improve how businesses perceive their activities and significantly improve their perception and relationship with business taxpayers.

European Business Organization Law Review, Jan 29, 2018

Similar to other countries, Serbia has established an expedited corporate restructuring framework... more Similar to other countries, Serbia has established an expedited corporate restructuring framework introducing prearranged reorganization plans in the Law on Bankruptcy. New procedure has been widely used since the law came into effect, but with mostly dismal results. The reason for the widespread use lies in the fact that this procedure incorporates all key components of a hybrid procedure-debtor in possession, a moratorium and the possibility to impose the plan on dissenting creditors within the class. As a rule, prearranged reorganization plans are not feasible. Debtors' owners in Serbia are unwilling to give up their equity and despite being unfeasible, creditors tend to support these plans as they are not willing to accept debt write-offs and/or debt-to equity swaps. This article examines the deficiencies of the procedure and suggests further reforms.

Industrija, 2021

The paper represents the first step in quantifying the categories of goods with the highest risk ... more The paper represents the first step in quantifying the categories of goods with the highest risk of being counterfeit during import into Serbia. Firstly, we present a methodology for quantifying the level of counterfeiting, its advantages, and its limitations. Secondly, we determine the product categories most likely to contain counterfeit products. Likewise, by using the OECD methodology, the GTRIC-p indicator for Serbia was formed, enabling comparison with OECD member countries. Based on the results, Serbia does not significantly differ from EU countries in terms of structure and product categories most at risk. The negative effects of imports of counterfeit products are borne mainly by the foreign intellectual property rights holders whose counterfeit products are imported into Serbia. In this context, despite the legal framework in place, incentives for its proper implementation are questionable.

Da li je prikaz posvecen dobitniku Nobelove nagrade za ekonomiju u casopisu koji je posvecen prav... more Da li je prikaz posvecen dobitniku Nobelove nagrade za ekonomiju u casopisu koji je posvecen pravnim naukama samo jos jedan pojavni oblik imperijalizma ekonomije u odnosu na druge drustvene nauke? Zasto bi neko ko je dobio nagradu za doprinos analizi tržisne moci i teoriju regulacije bio zanimljiv za jedan naucni casopis posvecen pre svega pravnoj nauci? Odgovor na ovo pitanje je jednostavan. Ovogodisnji dobitnik nagrade francuski ekonomista Žan Tirol (Jean Tirole), profesor ekonomije na Univerzitetu u Tuluzu, spada u grupu ekonomista nobelovaca ciji nalazi imaju bitne implikacije i na pravne nauke. U Tirolovom slucaju rec je pre svega, ali ne i iskljucivo o pravu konkurencije.

The paper presents research on the content of postgraduate programs in the field of public policy... more The paper presents research on the content of postgraduate programs in the field of public policy at leading European universities. Based on previous research, more than 80 courses are classified in four areas: economic analysis, research methods, public administration, and public policy, in order to obtain a typical master program in public policy analysis. The programs mostly emphasize research methods and public policy theory and application with somewhat lower presence of economic analysis and public management. The results of the research can be used for the purpose of formulating new postgraduate programs at universities in Serbia.

Ekonomika preduzeca, 2020

Rad razmatra relativni značaj kreativnih industrija u Srbiji i pruža kritički pregled postojećih ... more Rad razmatra relativni značaj kreativnih industrija u Srbiji i pruža kritički pregled postojećih metodoloških pristupa koji mogu biti korišćeni radi određivanja doprinosa ovih industrija. Takođe, prikazujemo rezultate doprinosa kreativnih industrija u Srbiji u periodu od 2014. do 2017. godine korišćenjem "užeg" DCMS pristupa ograničenog samo na osnovne kreativne industrije (uži pristup). U radu prikazujemo i dodatna merenja doprinosa kreativnih industrija na osnovu pristupa koji definišemo kao "širi pristup". U 2017. godini uže definisane kreativne industrije doprinele su 3,9 procenata ukupne BDV i 3,7 procenata ukupnog BDP-a, a šire definisane industrije 7,8 procenata i 7,5 procenata, respektivno. Drugi indikatori takođe ukazuju na značaj kreativnih industrija u Srbiji. Prosečna godišnja stopa rasta broja privrednih subjekata u okviru užeg pristupa merenju kreativnih industrija iznosi 5,6 procenata (8,4 procenta za širi pristup, što je za 6 procentnih poena više od prosečne stope rasta u celoj ekonomiji-2,01 procenat). Lica zaposlena u uže definisanim kreativnim industrijama čine 3,3 procenta ukupnog broja zaposlenih lica u Srbiji (šire definisne kreativne industrije doprinose ukupnom nivou zaposlenosti sa 5,6 procenata). Podsektor IT, softverskih i računarskih usluga ima najveći udeo kada je u pitanju doprinos pojedinačnih sektora kreativnih industrija srpskoj privredi. U 2017. godini, ovaj podsektor generisao je više od 60 procenata ukupne BDV uže definisanih kreativnih industrija (više od 55 procenata kada je u pitanju širi pristup klasifikaciji).